President calls for efforts to win foreign investment

SEOUL, Jan. 22 (Yonhap) -- President Lee Myung-bak Thursday called for efforts to
encourage foreign businesses to increase their investment in Korea as the
government struggles to fight dire economic conditions and job losses.

Lee said the country may not be doing enough to promote its investment-friendly
regulations already in place, according to an official at the presidential
office.
"I hope each ministry will quickly provide information about our reform and
deregulation measures in English through web sites," the president told a meeting
of the Emergency Economy Management Council, according to the official.
This will help foreign businesses and embassies here to better understand the
country's regulations or benefits regarding their investment here, Lee said.
The National Statistical Office reported earlier this month that the country lost
over 12,000 jobs last month, the first and largest loss since October 2003 due
mostly to diminishing corporate and foreign investment and discouraging economic
outlooks.
Lee said government efforts to create jobs must first be focused on those who
work for small businesses, according to the presidential office.
The presidential committee was set up in early January to help steer the country
away from what the government has called an "unprecedented recession."
bdk@yna.co.kr
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